'LIC IPO in last quarter of current fiscal'

New Delhi: The government said the initial public offer (IPO) of Life Insurance Corporation of India will happen in the last quarter of the current fiscal. The assertion followed media reports that the IPO may get delayed and come only next fiscal.

"Some media speculation doubting the feasibility of LIC IPO this fiscal year is not correct. It is reiterated that plan is on course for the IPO in the last quarter of this fiscal," tweeted Tuhin Kanta Pandey, secretary in the department of investment and public asset management (DIPAM).

The government has set a disinvestment target of ₹1.75 lakh crore for FY22. The LIC public offer is crucial if this target is to be met.